Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-12-14
Facts FOR the Washington Post.

a - W. NfNt''C' ~ WV lf'f'"'''
/ observe that the Washington Post
of Monday puts in an oar to help the
bondholders and their lawyers, and as
that paper may have circulation enough
to convey to aud fix upon careless and
Indifferent minds impressions which may
do injustice to Virginia, l will attempt
to give it some facts upon which to base
Il correct judgment.
In the first place | think / can en-
tighten it by a suggestion as to the prOba-
blemOtivoso of whatisa yet unexplained
to wit, the reasons which induce Mr..
Royal 10 wish the proceedings under
the coupon-crusher to be suspended in
order that he may have conference with
the State authorities. These reasons are
mainly two
|. Mr.. Royal admits that he has n
contingent fee dependent on the settle
ment. OF course if the State makes the
settlement he gets no such fee, and his
loss may be very considerable.
.. The Governors message quotes
from a statement made 10y the Second
Auditor, that according to the condi-
tons Of the Wickham amendment all
new "-i. g., Riddlebergcr-" bonds bear
interest from the semi-annual period
next preceding the date Of funding
and no allowance is made for any inter
est maturing after January /, 1885 ii.
g., all interest intermediate between that
date and the actual date of funding is
forfeited. "The interest thus disallOwed
amounts now to 81, 747, 230.21, which in
cludes S2,4l3,3G7 per cent. tax-re-
ceiyabIe coupons" BY the LIST of Janu-
airy next this latter sum Will be increased
by about 500, 600. making total OF
S2,913, 367. This is what the bOndhold-
crs demand shall be funded at par. If
it had been allowed TO be funded with
the bonds then it would have been worth
only a little more than one fourth of
that amount; for the per cent. coDsol
bond of 81 1850, LET me say Tor illustra-
ton, would be reduced by funding to
one Of $500, with only per cent inter
est on that. If admitted at that rate the
sum would be nearly $500, 600 over
and above what the State has engaged to
pay. To fund their claim at par would
require an annual Increase Of interest of
not quite 100000.
This addition to her burdens the State
cannot bear. Governor Lees late
message shows that it will take every
cent of the States resources to carry on
the Government and pay interest on the
debt under the Riddleberger settlement
But if it did not the last opinion of Mr..
Justice Facing Both Ways Matthews adj
mits enough sovereignty left in the
State of Virginia to enable her to settle
the debt on her own terms. and consider
ing that three fourths of her white voters
think that not a dollar of the debt is
morally due, the settlement proposed is
extremely liberal.
What the Post may think of it one way
or the other is a matter OF no more con-
sequence to the State of Virginia than
its opinion of her proclaimed opposition
20 MrSCleveland's recommendations of
revenue reform. On both questions she
speaks and acts for herself. She knows
what she can do in one case, she knows
what she wants in the other, and she is
the best Judge in both cases.
The Post RENTS Virginia 10 the tribu-
nal of public opinion An ultimate pub
lie opinion Is worth a great deal a pres
ent public opinion is worth very little !;
necessarily SO when it is announced by
such organs rs the Post. But rs it cites
Virginia to appear let me ask whOt pub
lie opinion must think Of the men who
would imprison all the officers OF Vir-
gina against the Constitution Of the
United States. and declare purpose to
produce state of anarchy, in order to
force the payment OF debt imposed by
admitted fraud upon PROSTATE people.
Would not public opinion be amazed, as
/ am, TO find the Indignation of our peo-
pie at so unparalleled an outrage cooled
80 soon? *FF